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Home Asia Gautam Adani, Asia’s richest man, on deals spree in India, abroad

Gautam Adani, Asia’s richest man, on deals spree in India, abroad

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AUGUST 24, 2022

New Delhi: Indian billionaire Gautam Adani, Asia’s richest man, is making his biggest media bet with a bid to buy a majority stake in New Delhi Television (NDTV).

Adani’s coal-to-edible-oils conglomerate has been on a deals spree over the past two years.

BUYS:

MEDIA

A unit of the Adani group used financial rights in a bid to buy a 29.18% stake in NDTV, apart from an open offer for another 26% in line with Indian regulations. Adani announced the move on August 23 but NDTV, which has a market valuation of about $300 million, said its consent was not sought.

POWER

Adani Power Ltd, India’s largest private thermal power producer, said on August 19 that it would buy thermal power plant operator DB Power for an enterprise value of Rs 7,017 crore ($878.61 million).

ROAD ASSETS

Adani Enterprises said on August 4 that a unit would buy Macquarie Asia Infrastructure Fund’s India toll roads in Andhra Pradesh and Gujarat states for Rs 3,110 crore.

PORT

Israel said on July 14 that it would sell Haifa Port, a major trade hub on its Mediterranean coast, to Adani Ports and local chemicals and logistics group Gadot for 4.1 billion shekels ($1.18 billion).

CEMENT

The Adani Group said in mid-May that it would buy Holcim AG’s cement businesses in India for $10.5 billion, its largest-ever acquisition, to become the country’s No. 2 cement manufacturer.

SALES:

RENEWABLES

* French energy major TotalEnergies said in June that it would buy a 25% stake in Adani New Industries Ltd, as part of a deal with Adani Enterprises to develop the world’s biggest green hydrogen ecosystem.

* Total said in January 2021 that it was paying $2.5 billion for a share in Adani Green Energy Ltd and its solar power assets.


Courtesy/Source: This story originally appeared in Times Now

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